August 16, 2011
Shareowners Pressure Smucker's on Climate Change
by Robert Kropp

Noting insufficient attention to the impact of climate change in the company's sustainability
report, Calvert Investments and Trillium Asset Management call for a report on social and
environmental risks to its coffee business.

Climate change will be one of the issues to be debated at tomorrow's Annual General Meeting of the
Smucker's food conglomerate. The company, which derives 40% of its revenue from its Folger's coffee
business, has on its proxy ballot a shareowner resolution submitted by Calvert Investments and Trillium Asset Management, which, according to a press release,
calls for "detailed disclosure by the company about climate-related risks to the Folgers Coffee and
other brands."

The resolution, which was filed in March, predated the publication
of company's 38-page 2011 Corporate Responsibility Report. The report, according to the press release,
"contained only one page devoted to coffee and none to climate change."

"Climate change
may present a number of important risks and opportunities for our company," the resolution states,
"as it impacts temperature, rainfall patterns, and disease vectors in the world’s coffee growing
regions. According to the Intergovernmental Panel on
Climate Change, physical risks from climate change may include changes and variability in
precipitation and in the intensity and frequency of extreme weather events."

The
shareowners requested Smucker's Board of Directors report on "how the company will manage the
social and environmental risks and opportunities connected to the company's coffee business and
supply chain."

Arguing that "the Company has published a corporate responsibility report
that includes, among other matters, a discussion of how the Company will manage the social and
environmental risks and opportunities associated with the Company's coffee business and supply
chain," Smucker's Board recommended a vote against the proposal.

Jonas Kron, Trillium's
Deputy Director of ESG (environmental, social, and corporate governance) Research and Advocacy,
stated, "We are concerned about maintaining the financial success of Smucker's coffee business in
the face of climate change and addressing the social and environmental impacts of its supply
chain."

Rebecca Henson of Calvert stated, "Now is the time for Smucker's to step up to its
financial and ethical responsibilities through full disclosure of climate change risks and its
commitments to supporting a more sustainable coffee supply chain that meets the needs of all
stakeholders."